Board management software is also called board portals, and is designed to streamline the operations of a corporate board. It automatizes tasks such as scheduling meetings, sharing documents and distributing minutes. It also provides tools to assist directors collaborate with each other in person and online. While some companies offer all-in-one solutions, others require users buy additional integrations to cover specific functions. This article outlines five essential characteristics of software for managing boards according to the scores given by verified software users. It provides the top-rated products for each feature.
The document management feature consolidates and organizes all documents related to boards in one central repository, increasing efficiency and management of information. It also offers collaboration tools, such as real-time annotations and comments, which allow members to look over documents at once and provide faster feedback and decision-making. This feature is equipped with accessibility and version control permitting administrators to set the levels for authorizing documents and files.
Security is an important priority for any company that is adopting new software, especially when it involves sensitive data. There are many freeware programs that come with no encryption or even a weak one. This leaves boards exposed to breaches which could cause reputational and financial damage. It is recommended to select only a solution that comes with the highest encryption of 256 bits or greater.
A reliable software for managing boards can cut down on administrative tasks and increase efficiency, allowing more time for important initiatives and projects. However, choosing the right solution requires careful analysis and research. Apart from assessing the functionality of each tool, it’s important to look at how each function can be integrated with your current technology stack.